Skybridge Technology Group Inc. (SKGO) Finalizes Merger With Textraw
April 13 2011 - 3:45PM
Marketwired
Skybridge Technology Group Inc. (PINK SHEETS:
SKGO)(www.skybridgetechgroup.com) is pleased to report that after
months of negotiations the long awaited merger with Textraw
International (www.textrawinternational.com) has been successfully
completed. SKGO and Textraw is ready to roll out its product onto
the US market as SKGO subsidiary.
After a year of negotiations, and seeking suitable financing
SKGO President/CEO Jeff Burns announced that, "The ink is dry, and
that Textraw International joined SKGO's 'green team'. SKGO
management feels that this merger and the new laws being passed up
and down the American east coast that restrict the use of natural
pine needles as landscaping, represent a great opportunity for
SKGO, and in our opinion will offer a great market potential for
Textraw product."
"We are glad that the negotiations and financing had been
completed and now behind us. Textraw under SKGO guidance intends to
restore its USA distributorship nationally. We are ready to get on
with our business with this new promising subsidiary. With the new
laws sweeping across the US, we expect this product to deliver
contracts on this new market niche."
"Fires throughout the United States have caused many state and
local fire marshalls to re-evaluate building codes and restrict the
use or storage of pine straw in proximity to buildings. One
replacement for natural pine straw has been the new synthetic pine
straw - SKGO's Textraw."
Textraw is made with recycled post-consumer scrap recovered from
plastic milk bottles and appears identical to fresh, natural straw.
It maintains its color and fresh appearance for many years,
eliminating the need for biannual replacement. Since Textraw
doesn't decompose, but maintains soil breathability, it doesn't
create a problematic pest-attracting environment and is free of
weed seeds, mold spores and mildew.
SKGO and Textraw are pleased to begin their new journey together
and will update investors and followers of any new developments,
and corporate progress shortly and frequently.
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future expectations, plans, prospects or performance of Skybridge
Technology Group Inc. that constitute forward-looking statements
for purposes of the Safe Harbor Provisions under the Private
Securities Litigation Reform Act of 1995. The words or phrases "can
be," "expects," "may affect," "believed," "estimate," "project" and
similar words and phrases are intended to identify such
forward-looking statements. Skybridge Technology Group Inc.
cautions you that any forward-looking information provided by or on
behalf of Skybridge Technology Group Inc. is not a guarantee of
future performance. None of the information in this press release
constitutes or is intended as an offer to sell securities or
investment advice of any kind. Skybridge Technology Group Inc.'s
actual results may differ materially from those anticipated in such
forward-looking statements as a result of various important
factors, some of which are beyond Skybridge Technology Group Inc.'s
control. In addition to those discussed in Skybridge Technology
Group Inc.'s press releases, public filings, and statements by
Skybridge Technology Group Inc.'s management, including, but not
limited to, Evader, Inc.'s estimate of the sufficiency of its
existing capital resources, Skybridge Technology Group Inc.'s
ability to raise additional capital to fund future operations,
Skybridge Technology Group Inc.'s ability to repay its existing
indebtedness, the uncertainties involved in estimating market
opportunities, and in identifying contracts which match Skybridge
Technology Group Inc.'s capability to be awarded contracts. All
such forward-looking statements are current only as of the date on
which such statements were made. Skybridge Technology Group Inc.
does not undertake any obligation to publicly update any
forward-looking statement to reflect events or circumstances after
the date on which any such statement is made or to reflect the
occurrence of unanticipated events.
Contacts: Investor Relations 1-647-426-1640
www.minamargroup.net/helpdesk Investor Relations Department
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